Prologis, Inc. (NYSE:PLD) Shares Bought by Sunpointe LLC

Sunpointe LLC lifted its position in shares of Prologis, Inc. (NYSE:PLD) by 10.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,429 shares of the real estate investment trust’s stock after purchasing an additional 235 shares during the period. Sunpointe LLC’s holdings in Prologis were worth $257,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ieq Capital LLC raised its holdings in shares of Prologis by 0.3% in the 4th quarter. Ieq Capital LLC now owns 34,703 shares of the real estate investment trust’s stock worth $3,668,000 after purchasing an additional 103 shares during the period. TKG Advisors LLC increased its position in Prologis by 0.8% during the 4th quarter. TKG Advisors LLC now owns 20,299 shares of the real estate investment trust’s stock worth $2,146,000 after purchasing an additional 153 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Prologis by 1.6% in the fourth quarter. Global Retirement Partners LLC now owns 17,153 shares of the real estate investment trust’s stock valued at $1,813,000 after buying an additional 263 shares during the period. Bank of Jackson Hole Trust acquired a new position in Prologis during the fourth quarter valued at approximately $229,000. Finally, Callahan Advisors LLC grew its stake in Prologis by 30.9% during the fourth quarter. Callahan Advisors LLC now owns 27,804 shares of the real estate investment trust’s stock worth $2,939,000 after buying an additional 6,566 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PLD has been the subject of a number of research reports. Wolfe Research decreased their price target on shares of Prologis from $135.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Mizuho lowered their price objective on Prologis from $119.00 to $117.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada upped their target price on Prologis from $125.00 to $128.00 and gave the company a “sector perform” rating in a research report on Monday, January 27th. BNP Paribas raised shares of Prologis to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, BMO Capital Markets cut shares of Prologis from a “market perform” rating to an “underperform” rating and cut their price target for the company from $120.00 to $104.00 in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Prologis currently has an average rating of “Moderate Buy” and a consensus price target of $128.78.

Prologis Stock Up 0.4 %

Shares of Prologis stock opened at $121.76 on Thursday. Prologis, Inc. has a twelve month low of $100.82 and a twelve month high of $135.76. The stock has a market capitalization of $112.77 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.70 and a beta of 1.10. The company has a current ratio of 0.23, a quick ratio of 0.43 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $112.18 and its 200-day simple moving average is $117.99.

Prologis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Monday, December 16th. Prologis’s payout ratio is 96.00%.

Insider Activity

In other Prologis news, CIO Joseph Ghazal sold 10,997 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $118.74, for a total transaction of $1,305,783.78. Following the completion of the transaction, the executive now directly owns 7,977 shares of the company’s stock, valued at $947,188.98. The trade was a 57.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Prologis Profile

Prologis, Inc is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. At March 31, 2024, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 1.2 billion square feet (115 million square meters) in 19 countries.